Several projects that had funds previously appropriated are now moving forward and bids have come in higher than the appropriations:

FY20 - Facilities Project & Design Plans: $25,000 appropriated.  Bid of $29,500 = +$4,500

FY21 - PA System Upgrade: $25,000 appropriated.  Bid of $34,122.16 = + $9,122.16

Total increase for capital expenditures is $13,622.16.

Annual membership for Board on track will be included in the FY23 budget.

The history of the Head of School salary from the last five years was presented; the range has been $107,000 (FY17) to $120,000 (FY18) and is currently at $110,000.   Also discussed was the annual salary survey from the MA Charter Public School Association (MCPSA).  The survey is conducted annually and charter schools can opt to participate.  Data is then shared in categories that include enrollment, location, community, grade level and model type.  Based on the data, a range of $110,000 to $130,000 would be appropriate and on the lower side of what other comparable charter schools are paying.  The Committees communication to the Board would be that they are comfortable with and the budget could support this range.

The report was given to the Committee in the agenda packet but in the interest of time, was not discussed.  Any members with questions can reach out to Marcy.

DESE's 3rd quarter tuition projection was reviewed as well as a projection provided by Marcy Conner, CFO.  The 3rd quarter numbers from DESE have not been adjusted for enrollment and final numbers for the above foundation rates have not been finalized.  On April 1st the enrollment was 392 students vs 400 reported.  Overall the tuition is down $46,694 from DESE's 1st quarter estimate but $149,771 more than the FY22 budgeted tuition.  As we approach the end of the year we are cautiously optimistic that we will reach the 4% increase over FY21 that will trigger retroactive salary increases for staff.   The one outstanding detail is the above foundation rates.  Final tuition will not be received from DESE until June 15, 2022.

For FY23 available numbers from the state budget process were reviewed.  The Governor's budget is favorable with a potential increase over 8%.  The House Ways & Means number will be available in mid April and then the Senate's will be released in May with a reconciliation and final budget released in June.  A range of options were presented for discussion on the tuition budget and a recommendation of using the projected number plus 4% from Marcy Conner.